Acquisition creates ‘largest’ freight company in the world
A Melbourne law firm has advised a US-based global provider of specialised, expedited transportation and logistics services on its sale to MNX Global Logistics.
Firms: KCL Law (Logical Freight Solutions); Undisclosed (MNX Global Logistics)
Deal: Logistics Freight Solutions (LFS) has been advised on the sale of its world-wide group of companies to MNX Global Logistics (MNX).
Key players: The legal team advising LFS was led by KCL Law special counsel Roger Rothfield, with assistance from principal lawyer Darren Brown and commercial lawyer Girish Rao.
Deal significance: LFS is a US-based global provider of specialised, expedited transportation and logistics services.
According to a statement from KCL Law, the acquisition of the company by MNX makes MNX the largest life science logistics and freight company in the world.
Commenting on the significance of the transaction, KCL Law special counsel Roger Rothfield said: “We congratulate our client LFS on the sale of their business, which was established in Australia over 21 years ago”.
“Due to the complexity of the transaction, the success was substantially driven by the co-operation of all the parties but in particular due to the unwavering dedication to detail by a number of our commercial team members,” he said.
LFS CEO Steve Cheetham thanked KCL Law for the work in this transaction.
“As an international logistics company operating in multiple offshore jurisdictions the sale of Logical Freight Solutions was always going to be a legal mine field. Foreign currencies and investment boards, overseas legal counsel and multilingual contracts were just some of the issues that needed to be attended to,” Mr Cheetham said.
“Having dealt with KCL Law (formerly Kligers) for many years we were always confident in their abilities, however Roger and his team, specifically Darren and Girish, not only achieved the result we were looking for, but helped us navigate many obstacles that could easily have stopped this deal in its tracks.
“By closure, and on reflection, we would not have walked away with a result as beneficial as we did without their expert guidance, and we could not have been happier with the outcome.”